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Author Archives: Yanling Mayer
The latest FNC Residential Price Index™ (RPI) shows strong growth of home prices during the third quarter of 2013 as the housing recovery continues to broaden across the country. The index, constructed to gauge the price movement among the underlying non-distressed home sales, increased 2.5% between the second and third quarters, making the third-quarter growth the fastest in the current recovery.
Rising home sales and relatively low foreclosure… Continue reading
The latest FNC Residential Price Index™ (RPI) shows continued growth of home prices in August as the U.S. housing recovery remains well underway. The index moved 0.6% higher from the previous the month, making August the 18th consecutive month of rising home prices. According to the FNC RPI, August home prices have climbed to the levels attained in December 2009.
Improving housing market fundamentals, particularly the rapid declines in… Continue reading
The latest FNC Residential Price Index™ (RPI) shows that U.S. home prices continue to climb higher, rising 0.7% in July. The index is reaching a three-year high as the housing recovery continues. The rapid declines in foreclosure sales and new foreclosure filings have diminished the impact of distressed properties on home prices. Meanwhile, steadily rising home prices and an expectation of continued recovery have stimulated housing turnover by prospective buyers… Continue reading
The latest FNC Residential Price Index™ (RPI) shows that the U.S. housing recovery continues to take hold with home prices nationwide rising a modest 0.6% in June. The index is reaching a two-year high after rising 16 straight months. The 16-month rising streak has lifted home prices by 7.6% since February 2012 — the month in which the housing market bottomed out.
According to the… Continue reading
The latest FNC Residential Price Index™ (RPI) shows the U.S. housing market continued to recover, recording in March the 13th consecutive price increase. In recent months, the ongoing housing recovery has maintained its pace with steady and persistent gains in home prices despite signs of continued job market weakness and soft economic growth.
Low interest rates continue to be a key driver of rising housing demand. The market… Continue reading
FNC’s latest Residential Price Index™ (RPI) indicates that U.S. property values continue to rise. Home prices reached a 20-month high following a robust spring/summer homebuying season. In August, home prices rose for the sixth consecutive month, consistent with signs of strengthening market conditions that are led by rising existing-home sales and declining foreclosure activities. Foreclosure sales, down from 23% a year ago to 17.4% in August, continue to play out… Continue reading
Last month, the Appraisal Institute released “Guide Note 12: Analyzing Market Trends,” a resource designed to give AI members an analytical framework for studying market trends while developing a market value opinion on a property. The Guide Note is particularly concerned with challenges faced by appraisers when market conditions are rapidly changing, as demonstrated by recent boom and bust cycles of the U.S. housing market. In slower markets like today’s… Continue reading
Spring Housing Scoreboard: While homesellers in Chicago are taking steep price cuts, Bay Area homes are selling quickly at near asking price.
With the arrival of the spring/early summer homebuying season, homes prices nationwide have showed signs of strengthening. The FNC Residential Price Index® (FNC RPI™) – the industry’s first hedonic price index built on a comprehensive database that blends public records with real-time appraisals of property characteristics… Continue reading
Despite the continued weakness in the U.S. housing market as indicated by March numbers from indicators such as NAR’s existing homes sales, Census’s new housing starts and new home sales, signs of a housing pick-up in the Chicago metro area are emerging earlier this year.
Rising Inventory and Owners’ Asking Prices: First, as early as February, Chicago’s single-family home listings were up 8.0% from the previous month, accompanied by… Continue reading
Home sales are up again, according to March numbers released by the National Association of Realtors, marking the ninth consecutive year-to-year growth. On a month-to-month basis, however, both March and February show declining sales volumes from the previous months, meaning the spring home buying season has yet to begin. The latest numbers on new housing starts from the Census Bureau show similar trends.
Nevertheless, a seasonal pick-up in… Continue reading